In today economics having poor credit or no credit seem very exhausted when you begin with very first day of college in life and do not have any means of transportation and always dreaming where in the world will to fill a credit application to get approved for car loans. It could be very threatening for the first time car buyer and do not have any know-how with car finance. Nowadays despite having zero credit, you can still avail a car loan, there are many people’s having bad credit and looking same for loan.
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Chery Auto's sales company said that this month it will cut the prices of seven car models of six Chery brands this month by up to 11,000 yuan ($1,610) in the Beijing market, said xinhuanet.com today.
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Global carmakers are demanding more from China's auto industry after the World Trade Organization's July ruling against the Chinese tariffs on auto-parts imports, said xinhuanet.com today.
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While the global auto market is sliding and many Chinese carmakers are mulling job cuts, Geely Auto bucks the trend by expansion. Its Hunan-based Xiangtan facility for producing the Geely Vision model was inaugurated last week, the Linhai base has been re-vamped and other plants are also being expanded, said xinhuanet.com today.
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By September 30, Chery Auto had exported 115,000 vehicles to overseas markets this year, close to the whole-year exports of 119,800 units it achieved in 2007, reported Information Times today.
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While many Chinese automakers are cutting outputs and jobs, a few are defying the trend of the auto market downturn to expand their operations. Like SAIC-GM-Wuling, Geely Auto is recruiting more talents for its growth amid the crisis of China's auto industry, reported Shanghai Securities News today.
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The China Aviation Industry Group Corporation (AVIC), formed following a government-ordered merger between AVIC I and AVIC II one week ago, will develop its two subsidiary automobile companies separately, the Economic Observer reported Monday in Beijing.
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Brilliance Auto will continue to invest in its Sichuan plant for building the largest production base in western China, xinhuanet.com reported today, citing sources of Brilliance Auto headquartered in northwestern Chinese city of Shenyang.
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Dongfeng Automobile Company has reported a fall in its third quarter net profit, despite a rise in turnover.
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In a statement it released on October 31, Shanghai Automobile Industry Corporation (SAIC) said its net profits declined by 42.67% year on year to 2.226 billion yuan ($32.63 million) in the third quarter, First Financial Daily reported.
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Up to October 30, at least 17 of China's 22 automakers had released their profit report for the third quarter this year. From July to September, the 17 Chinese carmakers’ auto sales revenues totaled 47.385 billion yuan ($6.93 billion), down by 2.9 percentage points from one year earlier, and their net profits stood at 747 million yuan, down 62.45% year on year, said xinhuanet.com new last Friday.
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An insider for Chinese carmaker BYD Auto said that the company has specified its plans for 2009 production and sales, which include the production of three new models and the self-developed DM (Dual Mode) electric vehicles, and the target of doubling its sales to 400,000 vehicles in the year, said xinhuanet.com today.
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